The Smart Grid Technology Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Smart Grid Technology Market?
The market size for smart grid technology has seen quick expansion recently. The market expanded from $54.28 billion in 2024 to $64.11 billion in 2025, showing a compound annual growth rate (CAGR) of 18.1%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Smart Grid Technology Industry?
The projected market size for the smart grid technology market in 2029 is expected to be $131.49 billion. The predicted compound annual growth rate (CAGR) for this period is 19.7%.
Download Your Free Sample of the 2025 Smart Grid Technology Market Report and Uncover Key Trends Now!
What are the Key Growth Drivers Fueling the Smart Grid Technology Market?
The key drivers in the smart grid technology market are:
• Increase in renewable energy penetration
• Favorable governmental initiatives and regulations
• Growth in the adoption of electric vehicles (EVs)
• The digitalization of the energy sector
Global Market Segmentation: Identifying Major Smart Grid Technology Industry Segments
The smart grid technology market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Network Operation: Outage Management Systems, Demand Management Systems, Geographical Management Systems, Energy Management Systems
3) By Technology: Wired, Wireless
4) By Application: Generation, Transmission, Distribution, Consumption
5) By End-User: Residential, Commercial, Industrial, Government
Pre-order the 2025 Smart Grid Technology Global Market Report for Fast Delivery & Comprehensive Insights!
What are the Emerging Trends Shaping the Future of the Smart Grid Technology Market?
The key trends in the smart grid technology market are:
• A progressive trend in this sector is the increased adoption of renewable energy.
• Regulatory support and favorable government initiatives are key emerging trends.
• There is a visible trend in increased popularity and adoption of electric vehicles.
• Digitalization in the energy sector is significantly shaping the market.
Who Are the Top Competitors & Leading Players in the Smart Grid Technology Market?
Major companies in the smart grid technology market are:
• Siemens AG
• Hitachi, Ltd.
• Schneider Electric SE
• Oracle Corporation
• General Electric Company
• Cisco Systems Inc.
• Eaton Corporation plc
• Itron Inc.
• International Business Machines Corporation
• Landis+Gyr AG
• ABB
• Mitsubishi Electric
• Huawei Technologies
• Toshiba
• Panasonic
• Smarter Grid Solutions
• Kries
• Enel
• Elster Group
• E.ON SE
• EDF France
• Engie
• Elgama-Elektronika Ltd
• NURI Telecom
• AEM S.A
• Iskraemeco Corp
• Energotest
• Elektromed Ltd
• SWTCH Energy Inc
• VRB Energy
• BeaconTron
• Solarwyse Ltd.
• Trilliant Incorporated
• Smart Grid Observer
• Windlogics
• UBESS
• Moura
• Voltalia
• Reuniwatt
• Neoenergia
• Iberdrola
• HIMOINSA
• Nidec Industrial Solutions
• Edelar S.A.
• ALEC Energy
• Mohamed Abdulrahman Al Bahar LLC
• Honeywell International Inc
• S&C Electric Co
• Husk Power Systems
• Engie Energy Access
• PowerGen Renewable Energy
• Abengoa, S.A.
• New Southern Energy
• SOLA Group
• SolarX
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the smart grid technology market in 2024
